Accurate Components & Fasteners, a portfolio company of High Road Capital Partners, closed its buy of All Tool Sales. No financial terms were disclosed. Based in Franksville, Wisconsin, All Tool Sales is a distributor of industrial fasteners used by original-equipment manufacturers and is also a provider of cutting tools and industrial supplies.
NEW YORK, December 23, 2013 – High Road Capital Partners (www.highroadcap.com) announced today that its portfolio company Accurate Components & Fasteners has completed the acquisition of All Tool Sales, Inc. Based in Franksville, Wisconsin, All Tool Sales operates through two divisions: All Fasteners, a leading distributor of industrial fasteners used by original-equipment manufacturers, and All Tool Sales, a distributor of cutting tools and industrial supplies.
“All Tool Sales has a strong reputation for high-quality products and consultative services through its vendor-managed inventory programs,” said Benjamin A. Schnakenberg, High Road Partner. “This acquisition expands our footprint and solidifies Accurate’s position as a leading provider of industrial fasteners and other industrial supplies to manufacturers in the Midwest.”
“We are excited to join the Accurate platform and have additional resources to serve our customers,” said Jim Ruetz, who will serve as president of the subsidiary. “We share the belief that being close to the customer and developing deep relationships is key to their success and ours,” added Mr. Ruetz, a son of All Tool Sales’ founder. Family members Rosemary Thornton and Nick Ruetz will also continue in management roles.
Accurate Components & Fasteners’ acquisition of All Tool Sales closed on December 20, 2013. Financing for the transaction was provided by U.S. Bank and Northstar Capital. Transaction consideration was not disclosed. Ben Schnakenberg, Partner, led the transaction for High Road. Also working on the transaction from High Road were Bill Hobbs, Partner; Paul Langley, Senior Associate; and Eugene Kolodin, Associate. BCMS Capital Advisors, LLC advised the sellers.
High Road has completed 28 transactions, comprising 26 acquisitions – 11 platform investments, 15 add-on acquisitions – and two exits since its founding in 2007. High Road acquired Accurate in December 2012.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $470 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, www.highroadcap.com.
Accurate Components & Fasteners
Accurate Components & Fasteners, which was founded in 1986, is a leading value-added distributor of industrial fasteners, hardware, stampings and production components used by original-equipment manufacturers in their manufacturing operations. Accurate is headquartered in New Brighton, Minnesota, and has a facility in Fargo, North Dakota. http://www.accuratecomp.com.
All Tool Sales, Inc.
All Tool Sales, which was founded in 1962, is a leading independent distributor of industrial fasteners used by original-equipment manufacturers. It also provides MRO (maintenance, repair and operations) supplies such as cutting tools and machinery components. All Tool Sales is headquartered in Franksville, Wisconsin. http://www.alltoolsales.com.